Friday, Oct 30, 2009

Meanwhile, back in the real economy

FT: Close the funding gap for smaller businesses

Making re-financing small and medium-sized firms (SMEs) through the banks is like pouring water into a bucket with a big hole at the bottom. Further big write-downs means the banks can't/won't do the job. Senior lending by banks goes only to the most secure companies. Equity and bond markets are closed to SMEs (equity comes at a ruinous price if at all, and private equity has dried up). Deferring investment results in contraction and unemployment. What's the answer? (Google the FT title if you can't see the whole article.)

Posted by icarus @ 11:00 AM (648 views)
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